EveryMatrix Sees Revenue and EBITDA Surge in Q3
LISTEN TO THIS ARTICLE:EveryMatrix has published its financial results for Q3 2023, showing growth across its various business segments.
The company reported net revenue of €27 million, a significant 62% increase compared to the same period last year. The company's overall revenue soared by 79% to €60 million year-over-year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were reported at €14 million, a 113% surge from the previous year.
Despite these gains, there was a slight 9% EBITDA decrease from the preceding quarter, which was attributed to negative foreign exchange influences and variability in the margins of sports trading.
New Partnerships Boost Global Presence
EveryMatrix secured a key contract with BetParx to deliver content aggregation across several U.S. states, including offering Evolution's live dealer games, among other products. The company also launched its comprehensive platform and sportsbook in partnership with Hungary's national lottery, Szerencsejáték Zrt., and introduced its full solution into the tightly controlled German market through bet-at-home.
Setting a new industry benchmark, EveryMatrix obtained the WLA Safer Gambling certification, making it the first iGaming provider to do so. It also engaged in a share buyback program, repurchasing 5% of its outstanding shares.
Casino Leads the Way
Breaking down Q3’s figures, the company’s casino segment brought in €13.3 million, while the sports segment contributed €6.3 million to the net revenue, marking a 29% rise year-over-year. The platform segment also saw growth, netting €6.3 million, an 87% increase over Q2 2022.
EveryMatrix ended Q2 2023 with €34 million in cash reserves, marking a significant increase from €19.3 million in Q1 2023.
This year, the company has been broadening its reach in the iGaming market, with notable moves including the acquisition of DeepCI and the launch of its LotteryEngine in Malta. EveryMatrix also strengthened its regulatory position with a new B2B software license in the Isle of Man.
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